Fifth deal! KKR to buy 2.32% stake in Jio Platforms for $1.5 billion

Global investment firm KKR will pick up a 2.32% stake in Jio Platforms for Rs 11,367 crore ($1.5 billion), making this its largest investment in Asia. The move will further put Reliance Industries (RIL) on road to becoming debt free this year. RIL’s net debt currently stands at Rs 1.6 lakh crore.

KKR is making the investment from its Asia private equity and growth technology funds. The deal further repositions Jio Plarforms as a technology company.